Yesterday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are going down even more. From the data front, all eyes will be focused on the publications from the US: nonfarm payrolls, unemployment rate and the ISM non-manufacturing PMI, all in January. Anyway, let’s start the analysis:
EURUSD
The EURUSD dropped significantly yesterday. The price finished the session a little below the EMA 200 and 1.091, slightly above the S1 support level. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.087 today. But if they do, the price might rise above the EMA 200 and reach 1.092.
GBPUSD
The GBPUSD also dropped deeply yesterday. The price finished the session slightly above 1.222. Today it is going down even more. If the buyers don”t generate some serious appetite soon, the price could fall below 1.218. But if they do, the price might return above 1.221.
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